2MIN
New UK proposals for AI regulation highlight need for businesses to take a cross regulatory approach to managing AI risk
Jul 21 2022
On 18 July 2022, the UK government announced its proposal for artificial intelligence (AI) regulation in its AI paper. The proposed approach reinforces the need for businesses to take a cross regulatory approach to managing AI risks particularly in regulated sectors.
In keeping with its pro-innovation approach post Brexit, the UK government is proposing a light-touch approach, and at this stage, unlike the EU, is not proposing specific AI legislation.
Key points to note:
- regulation of AI will be primarily delegated to regulators to enable a context specific approach to regulation.
- to address the challenge of regulation by multiple regulators the UK Government proposes:
- the introduction of a set of six cross-sectoral principles that address the key challenges of AI: product safety, technical security and reliability, transparency, fairness, legal responsibility, and clarification of redress and contestability routes; and
- supporting the co-ordination of regulatory powers through initiatives such as the Digital Regulation Cooperation Forum.
- the introduction of a set of six cross-sectoral principles that address the key challenges of AI: product safety, technical security and reliability, transparency, fairness, legal responsibility, and clarification of redress and contestability routes; and
- businesses can expect to see further regulatory guidance interpreting and implementing the cross-sectoral principles from relevant regulators including the Information Commissioner’s Office (ICO), the Office of Communications (Ofcom), the Competition and Markets Authority (CMA), Medicines and Healthcare products Regulatory Agency (MHRA), Equality and Human Rights Commission and the Financial Conduct Authority (FCA).
- in keeping with the pro-innovation agenda there is a focus on high risk uses of AI only, rather than hypothetical or low risks associated with AI.
It is yet to be seen whether this approach will strike the balance between flexibility and certainty that the UK government is seeking.
If you want to contribute your views you have until 26 September 2022. A White Paper is expected later this year.
